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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2014
Pre-Tax Stock-Based Compensation Expense from Continuing Operations | Pre-tax stock-based compensation expense from continuing operations was as follows:
(In millions) |  | 2014 |  |  | 2013 |  |  | 2012 |
Stock option awards |  | $ | 7.8 |  |  | $ | 7.9 |  |  | $ | 11.9 |
Restricted stock units |  |  | 11.8 |  |  |  | 9.6 |  |  |  | 9.8 |
Performance awards |  |  | 7.6 |  |  |  | 6.5 |  |  |  | 3.3 |
Director awards |  |  | 0.9 |  |  |  | 0.9 |  |  |  | 1.1 |
Total pre-tax expense |  |  | 28.1 |  |  |  | 24.9 |  |  |  | 26.1 |
Tax benefit |  |  | 10.5 |  |  |  | 9.1 |  |  |  | 9.4 |
Total after tax expense |  | $ | 17.6 |  |  | $ | 15.8 |  |  | $ | 16.7 |
Restricted Stock Units Activity | A summary of activity with respect to restricted stock units outstanding under the Plans related to Fortune Brands and our Former Parent employees for the year ended December 31, 2014 was as follows:
|  | Number of Restricted Stock Units |  |  | Weighted-Average Grant-Date Fair Value |
Non-vested at December 31, 2013 |  |  | 1,297,296 |  |  | $ | 20.68 |
Granted |  |  | 358,880 |  |  |  | 43.98 |
Vested |  |  | (709,525 | ) |  |  | 19.32 |
Cancelled |  |  | (103,714 | ) |  |  | 28.47 |
Non-vested at December 31, 2014 |  |  | 842,937 |  |  | $ | 30.79 |
Black-Scholes Option Pricing Model Assumptions used to Estimate Fair Value of Options | The fair value of Fortune Brands options was estimated at the date of grant using a Black-Scholes option pricing model with the assumptions shown in the following table:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Current expected dividend yield |  |  | 1.5% |  |  |  | 1.5% |  |  |  | 1.5% |
Expected volatility |  |  | 32.0% |  |  |  | 32.0% |  |  |  | 35.0% |
Risk-free interest rate |  |  | 1.9% |  |  |  | 1.1% |  |  |  | 1.2% |
Expected term |  |  | 6 years |  |  |  | 6 years |  |  |  | 6 years |
Stock Option Activity | A summary of Fortune Brands stock option activity related to Fortune Brands and our Former Parent employees for the year ended December 31, 2014 was as follows:
|  | Options |  |  | Weighted- Average Exercise Price |
Outstanding at December 31, 2013 |  |  | 9,649,560 |  |  | $ | 14.39 |
Granted |  |  | 595,150 |  |  |  | 44.52 |
Exercised |  |  | (2,150,255 | ) |  |  | 13.52 |
Expired/forfeited |  |  | (214,677 | ) |  |  | 25.77 |
Outstanding at December 31, 2014 |  |  | 7,879,778 |  |  | $ | 16.60 |
Options Outstanding and Exercisable | Options outstanding and exercisable at December 31, 2014 were as follows:
|  | Options Outstanding(a) |  |  |  |  | Options Exercisable(b) |
Range Of Exercise Prices |  | Options Outstanding |  |  | Weighted- Average Remaining Contractual Life |  |  | Weighted- Average Exercise Price |  |  |  |  | Options Exercisable |  |  | Weighted- Average Exercise Price |
$9.00 to $11.99 |  |  | 2,079,975 |  |  |  | 2.0 |  |  | $ | 9.71 |  |  |  |  |  | 2,079,975 |  |  | $ | 9.71 |
12.00 to 14.00 |  |  | 3,776,262 |  |  |  | 6.2 |  |  |  | 13.05 |  |  |  |  |  | 3,229,631 |  |  |  | 13.18 |
14.01 to 44.73 |  |  | 2,023,541 |  |  |  | 7.9 |  |  |  | 30.29 |  |  |  |  |  | 839,387 |  |  |  | 23.31 |
|  |  | 7,879,778 |  |  |  | 5.5 |  |  | $ | 16.60 |  |  |  |  |  | 6,148,993 |  |  | $ | 13.39 |
(a) | At December 31, 2014, the aggregate intrinsic value of options outstanding was $225.9 million.
(b) | At December 31, 2014, the weighted-average remaining contractual life of options exercisable was 4.9 years and the aggregate intrinsic value of options exercisable was $196.0 million.
Summarizes Information of Performance Share Awards | The following table summarizes information about performance share awards as of December 31, 2014, as well as activity during the year then ended, based on the target award amounts in the performance share award agreements:
|  | Number of Performance Share Awards |  |  | Weighted-Average Grant-Date Fair Value |
Non-vested at December 31, 2013 |  |  | 499,500 |  |  | $ | 25.38 |
Granted |  |  | 160,500 |  |  |  | 45.13 |
Vested |  |  | (1,155 | ) |  |  | 37.76 |
Cancelled |  |  | (63,145 | ) |  |  | 31.24 |
Non-vested at December 31, 2014 |  |  | 595,700 |  |  | $ | 30.06 |

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